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Alternative Market Briefing

What asset managers think about the SEC Modernisation rules

Monday, October 17, 2016

Benedicte Gravrand, Opalesque Geneva:

Following the Securities and Exchange Commission (SEC)’s final decision on Thursday to modernise investment companies’ reporting and liquidity risk management, State Street issued a survey it had conducted in August among 100 global asset and alternative asset managers about their readiness for these changes.

The survey found that:

  • 67% of asset managers expect that the SEC Modernisation changes impacting liquidity risk and reporting will pose implementation challenges
  • 78% reported an increase in time spent on regulations
  • 76% said more education would help them implement the changes
  • 31% of hedge funds said they’re likely to leverage outsourcing
  • 38% of asset managers plan to invest in new technology to address the changes
  • Additionally, respondents are concerned that the greatest challenges to implementing the SEC Liquidity Risk Management rule include additional board reporting and oversight and addition of new disclosures and reporting requirements.

"The SEC’s rules on reporting and liquidity will require more frequent reporting requirements, quicker deadlines and the need to manage more complicated data," said Andrew Erickson, executive vice president at State Street. "This means our clients will need to add risk management oversight requirements for liquidity measurement and invest in more techn......................

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